Brokerages Set The Beauty Health Company (NASDAQ:SKIN) Target Price at $6.50

The Beauty Health Company (NASDAQ:SKIN) has been assigned a consensus recommendation of “Reduce” from the twelve research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.50.

A number of equities research analysts have recently weighed in on SKIN shares. TD Cowen boosted their price target on Beauty Health from $2.50 to $4.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 13th. Stifel Nicolaus restated a “hold” rating and set a $4.00 price target (up previously from $3.00) on shares of Beauty Health in a research note on Wednesday, March 13th. DA Davidson reiterated a “buy” rating and set a $5.00 price objective on shares of Beauty Health in a research note on Friday, March 15th. Canaccord Genuity Group boosted their price objective on shares of Beauty Health from $3.00 to $4.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Finally, Piper Sandler reaffirmed an “underweight” rating and set a $3.00 price target (up previously from $2.00) on shares of Beauty Health in a research report on Wednesday, March 13th.

Beauty Health Stock Up 5.9 %

NASDAQ:SKIN opened at $3.24 on Friday. The company has a debt-to-equity ratio of 12.43, a quick ratio of 5.28 and a current ratio of 6.07. The stock has a market capitalization of $399.90 million, a P/E ratio of -4.21 and a beta of 1.01. The company’s 50-day simple moving average is $3.65 and its 200-day simple moving average is $3.39. Beauty Health has a fifty-two week low of $1.35 and a fifty-two week high of $11.73.

Beauty Health (NASDAQ:SKIN) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. The business had revenue of $96.80 million for the quarter, compared to analyst estimates of $87.22 million. Beauty Health had a negative net margin of 25.65% and a negative return on equity of 18.85%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. On average, equities analysts anticipate that Beauty Health will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beauty Health

Institutional investors have recently modified their holdings of the stock. Senvest Management LLC grew its holdings in Beauty Health by 30.8% during the third quarter. Senvest Management LLC now owns 8,937,381 shares of the company’s stock worth $53,803,000 after acquiring an additional 2,106,622 shares during the period. Braidwell LP acquired a new position in shares of Beauty Health in the 3rd quarter valued at $9,790,000. Glendon Capital Management LP boosted its holdings in Beauty Health by 46.0% during the third quarter. Glendon Capital Management LP now owns 636,954 shares of the company’s stock worth $3,834,000 after buying an additional 200,800 shares in the last quarter. Pasadena Private Wealth LLC acquired a new stake in Beauty Health during the fourth quarter valued at $1,857,000. Finally, Dark Forest Capital Management LP increased its holdings in Beauty Health by 583.0% in the third quarter. Dark Forest Capital Management LP now owns 377,114 shares of the company’s stock valued at $2,270,000 after buying an additional 321,898 shares in the last quarter. Hedge funds and other institutional investors own 93.26% of the company’s stock.

About Beauty Health

The Beauty Health Company designs, develops, manufactures, markets, and sells aesthetic technologies and products worldwide. The company's flagship product includes HydraFacial that enhance the skin to cleanse, extract, and hydrate the skin with proprietary solutions and serums. Its products also comprise Syndeo, a Delivery System designs to connects providers to the consumer's preferences to create a more personalized experience; consumables, such as single-use tips, solutions, and serums used to provide a hydrafacial treatment; SkinStylus SteriLock Microsystem, a microneedling device used for the treatment of enhancing appearance of surgical or traumatic hypertrophic scars on the abdomen and facial acne scarring in Fitzpatrick skin types I, II, and III; and Keravive, a treatment for scalp health.